Four fair coins are to be flipped. What is the probability that all four will be heads or all four will be tails? Express your answer as a common fraction.
Answer: Each coin has 2 possible outcomes, so the total number of possible outcomes is $2 \cdot 2 \cdot 2 \cdot 2=2^4=16$. Two of these are all tails and all heads, so the probability is $\frac{2}{16}=\boxed{\frac{1}{8}}$.